Mechel 2Q Steel Production Down 6.7% At 1.397 Million Tons
July 15 2009 - 10:09AM
Dow Jones News
Russian coal and steel group OAO Mechel (MTL) said Thursday it
produced 1.397 million metric tons of steel in the second quarter
2009, down 6.7% from 1.498 million tons in the same period in 2008,
but up 27% from 1.100 million tons produced in the first quarter
2009.
The company said second quarter coal production was 2.991
million tons, down 56% from the same period of 2008, and down 13%
from the previous quarter.
Mechel's nickel production for the quarter stood at 4,200 tons
down 11% from the same period of 2008, but up 44% from the previous
quarter.
"Starting from the second quarter we observe certain positive
dynamics in the markets of steel products we produce," Vladimir
Polin, senior vice-president of Mechel said in a statement, adding
the company has a positive outlook for the second half 2009 and
intends to "increase production, tapping new market niches and
increasing the company's share" in its markets.
-By Alexander Kolyandr, Dow Jones Newswires; +44 20 7842 9410;
alexander.kolyandr@dowjones.com